The Limited Liability Company of Bolivia

• Is a commercial partnership organized under a denomination and capital divided in capital quotas.
• These capital quotas are neither represented by shares nor are negotiable by securities. Also, this kind of partnership does not have by-laws. For this reason, the guidelines for which it is ruled are found in its formation documents.
• It is required to have a minimum of 2 members and a maximum of 25 members.
• The shareholders are responsible for up to the amount they have contributed.
• The company’s capital will be divided into equal membership interests that will be of a hundred bolivianos or multiples thereof.
• The administration of the Limited Liability Company will be the responsibility of one or more managers or administrators, being a member or not. They will be assigned that responsibility for a fixed or indefinite time, by the members.
• This kind of company can be constituted in 10 business days from the gathering of all the documentation that must be presented.
• It is important to clarify that the legal representative of the company must be a Bolivian citizen. However, if this person is a foreigner, he or she must acquire a Bolivian Identification for Foreign Aliens. This document is acquired by having a temporary residence in Bolivia.
• As for the shareholders, they can be foreigners and don’t have to hold any specific type of visa or residency in order to be part of the Limited Liability Company.
• Finally, it is important to mention that this kind of company has no minimum or maximum capital requirement in order to be formed.
• For more information, contacts us at: abogados@rigobertoparedes.com or call us on Skype.